ctpelot
$GILD We see an Inverted HnS within a larger ascending triangle. If we break above $111, there should be room to run to $120.
If $BABA can break the $82 level, I see the next resistance at $86-88.
$IBKR is testing an upside breakout from a cup and handle. Will monitor
Watching $SBUX after an upside breakout from a Bull Flag. S1: $59.50 S2: $58.00 R1: $64.00
$NKE could be forming a potential Head and Shoulders pattern. The stock has a gap to fill to about $118. I like the stock to bounce off this level after a solid earnings report last quarter and technical bullish momentum divergences.
$CMG Chipotle recent retraced all of its gains from July. The stock double-bottomed and experience a false breakout to the downside. Long Target 1: $635.44 Long Target 2: $677.97
After forming a textbook cup-and-handle, the stock broke out as expected. We are now seeing a bull-flag form and expect the stock to breakout higher. It could retreat as far as $28.50 before breaking out.
I like $CHK showing bottoming signs along a bull flag pattern. I entered at $7.09 with stop loss at $6.62 and taking profit at $8.50.
It is not a hard concept to grasp. The markets respect these Fibonacci Levels. XLF vs SPY has been another weak indicator for the financial sector. It would not surprise me to see prices in the $17-$18 range in the intermediate term.
Given the extremely high correlation between the USD/JPY pair and the S&P 500, this chart could give us a heads up as to where US Equities are going. I will be watching this coiling pattern very close for a break up or down.
$NKE has beat earnings estimates each of the last 10 quarters. I would like a swing long play if the price pulls back to the trendline shown
Fireye has filled its gap from February and consolidated in this area. I like the company on any subsequent move higher in the market.
Solar City has been forming a descending triangle since 2014. It has consolidated in the gray box, but has yet to test the overhead trendline again. I would like to short this stock at this overhead area.
$TROV this biotech company has shown a clean chart through some carnage. Simple trend following play here - a break below the uptrend line will signal downside play.
Qualcomm has now retraced 50% of its move from the 2009 bottom. Could this area provide short-term relief?
Bounce off of trend line support and $BAC could be headed to $18, especially given the looming interest rate hike. Disclaimer: Long $BAC
Bulls could boost their case today and tomorrow by pushing the 500 above $197